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Bank Scams
Attacking the Left government over the syphoning of funds from Karuvannur Cooperative Bank, the Opposition Congress on Wednesday accused Chief Minister Pinarayi Vijayan of not finding a solution to the problems of people who have invested their life's savings in the scam-hit financial institution. The party alleged that the Left government was protecting the looters and those who shared the plundered money from Karuvannur bank. The assurance given by the government that no investor in the scam-hit cooperative bank would lose their money was yet another bid to deceive them, Leader of Opposition in the State Assembly V D Satheesan said in a statement here. A day after Cooperation Minister V N Vasavan said in Kochi that the depositors of Karuvannur bank would get their money back at the earliest, Satheesan pointed out that the government had assured those who had invested up to one lakh rupees that it would return their deposits, but was silent about those people who had invested lakh
Chhattisgarh Chief Minister Bhupesh Baghel on Monday said police have resumed probe into a 17-year-old "scam" in the Indira Priyadarshini Mahila Nagrik Sahakari Bank after a court in Raipur gave the go-ahead. The alleged irregularities of Rs 22 crore were unearthed in 2006 when the Bharatiya Janata Party was in power and 11 persons were arrested at the time, as per police. Promising stern action against those who had embezzled hard-earned money of account holders, the CM said, "The court has ordered for further investigation into it. Our police officials have been looking into case related files and will take further action accordingly. "The important thing is that labourers, farmers, small businessmen who had lost their hard earned money should get it back.The entire embezzled money will be recovered and returned to account holders," he added. The irregularities were unearthed when Raman Singh was chief minister and a narco test was also conducted on the accused but the probe did
The Supreme Court on Friday granted four-week extension to the Central Bureau of Investigation and Reserve Bank of India to file reply on a plea filed by BJP leader Subramanian Swamy seeking probe into the alleged role of the central bank officials in various banking scams. A bench of Justices B R Gavai and Vikram Nath said it will hear the matter after six weeks. The top court had issued notices to the CBI and ED on October 17. Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed. He contended that despite playing a key role in the allocation of funds to various projects, RBI nominees have not been touched by CBI enquiries from 2000 till today. "Not a single RBI official has been brought to justice despite RBI retaining the power to monitor, regulate, supervise, audit and direct the functioning of all banking companies in India," the plea submitted. The plea also alle